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Toyota profits up 23% on high US sales, despite mounting legal costs

Toyota earned $9.3 billion in net income in the financial year that ends next month. The number beats earlier forecasts and marks a five-year high for the automaker, with both operating income and revenue up by 9.5 percent and 2.5 percent, respectively. Toyota saw quarterly profit enjoy a year-on-year jump of 23.4 percent, with the manufacturer earning more than $1 billion between October and December 2012. The good news comes in spite of the fact that the Japanese automaker actually endured an operating loss in North America, due in part to legal fees.
Toyota is set to pay more than $1 billion to owners who claim their vehicles decreased in value as a result of the company's recent spate of recalls. Even so, all three of the automaker's brands enjoyed a 13.5 percent sales increase in the US in the last quarter, beating the industry average. Toyota faltered in Europe, however, where it earned $99 million in operating profit last year, compared to $111 million in 2011. You can take a closer look at the company's full press release below for more information.

Leaked Toyota FT-86 Open concept images preview droptop Scion FR-S [w/video]

Here it is, folks - the highly anticipated Toyota FT-86 Open concept, a precursor to what could become a road-going Scion FR-S convertible. A full smattering of images and video have leaked onto the internet, and thanks to the folks at FT86Club.com, we can now see the new hotness that Toyota will be unveiling at the Geneva Motor Show next week.
These images confirm details that were first seen in spy shots captured a couple of weeks ago - namely, the larger wheel/tire package and the inclusion of the Toyobaru coupe's decidedly useless rear seats. These new photos, however, show a two-tone leather interior with goodies such as an iPod/iPhone mount on the dashboard. The concept car is also fitted with the coupe's six-speed automatic transmission (boo!) and FT86Club.com reports that the folding soft top is operated electronically.
We'll have the full details live from Geneva in just a few days. For now, click through our attached image gallery to see lots of pretty pictures of the topless wonder, and scroll down for a video to see the concept in motion.

2015 Scion FR-S gets suspension, appearance enhancements

A couple of weeks ago, we told you about some suspension and appearance changes for the European-market Toyota GT86 - a car that's better known as the Scion FR-S (and Subaru BRZ) here in the United States. At the time, our US contacts at Scion told us we'd have final confirmation "soon" as to whether or not these upgrades would make their way to our FR-S, and now, we have those official details.
For 2015, the FR-S features a more rigid front suspension setup, and the rear shock absorbers have been retuned, all of which has been done to reduce body roll and improve feedback. Other upgrades include a new shark-fin antenna and larger exhaust pipes that are now flush with the rear bodywork. Inside, buyers will be treated to an updated interior panel with a carbon fiber look, the addition of automatic on/off headlights, and a new key design. All of this comes at very little additional cost, with the manual transmission-equipped 2015 FR-S starting at $24,900 (not including $755 for destination) - an increase of $400.
Elsewhere in the Scion range, the tC coupe has been updated slightly for 2015. The not-as-sporty coupe now features steering wheel-mounted paddle shifters on automatic transmission-equipped models, and a couple of new colors are offered: Cosmic Gray and Blizzard Pearl. The 2015 tC starts at $19,210 - the same as the 2014 model.